"Political economy explanations for fiscal profligacy are dominated by models of bargaining among organized interest groups over group-specific targeted benefits financed by generalized taxation. These models predict that governments consisting of a coalition of political parties spend more than...

This note presents practical guidance on how to implement a framework for managing fiscal commitments from Public-Private Partnerships (PPPs). It draws on specific regional operational experience and on World Bank Institute (WBI)'s wider thematic engagement with different partners worldwide. The...

"Over the past decade the United States has experienced widening current account deficits and a steady deterioration of its net foreign asset position. During the second half of the 1990s, this deterioration was fueled by foreign investment in a booming U.S. stock market. During the first half...

The Czech government is confronted with a worsening fiscal situation. The structural deficit ballooned in 2000, and it is expected to widen further in 2001. The report suggests that, at this stage of the recovery, fiscal retrenchment instead should be in order, both to make room for private...

This public expenditure review analyzes recent developments in the Czech Republic, and future prospects for growth, with fiscal stability. In analyzing the strategic setting, where a central thrust of this strategy is the accession to the European Union (EU), the report suggests than an...

"The recent global financial crisis has shaken the confidence of developed and developing countries alike in the very blueprint of financial and macro policies that underlie the western capitalist systems. In an effort to contain the crisis from spreading, the authorities in the US and many...